Positive ID Labels Acquires Limbus Labels
share they hold.The offer valued the company at 9.5 billion euros. The “revised proposal fundamentally undervalues the group and remains significantly below the valua- tions set by recent industry transactions,” Smurfit said. Smurfit, which operates in 35 countries in Europe and the Americas, recorded a slight rise in core annu- al profit to 1.24 billion euros ($1.5 billion) last year after a strong fourth quarter. PMMI Launches CareerLink Online Job Board PMMI,The Association for Packaging and Processing Technologies, has launched CareerLink, a new online job board, made possible by a $50,000 grant from the Bosch Community Fund. CareerLink will connect students from schools and universities with PMMI member companies looking for new talent. This job board is the centerpiece of a new initiative aimed at raising awareness of career opportunities in the packaging and processing industry through fos- tering relationships with institutions, marketing the industry to students and helping students find entry- level employment and internships.
Melbourne, Derbyshire, UK-based Positive ID Labels has acquired Limbus Labels of Tiverton, Devon, UK. The addition of the flexo printing press owned by Limbus Labels was installed at the group headquar- ters in Derbyshire on March 19. The merger also in- creases group turnover by 25 percent to more than £2m annually. Management of the two companies will join forces. Hank Arnold, former owner of Limbus Labels, will stay on for at least 12 months as part of the acquisi- tion, to ensure continuity of service. Smurfit Kappa Rejects Rejects IP Bid Ireland’s Smurfit Kappa has reportedly rejected an increased takeover offer from U.S. rival Internation- al Paper, saying the offer undervalued Europe’s largest paper packaging producer and made no strategic sense. Under International Paper’s revised proposal, Smur- fit's shareholders were offered 25.25 euros in cash, up from a previous offer of 22 euros and 0.3 new shares of International Paper for each share Smurfit
Flexo Market News April 2, 2018 3
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